UCF QMB 3200 HW FLASH CARDS QUESTIONS AND ANSWERS 2024

n Which of the following symbols represents the size of a sample? 8 The variance of a sample of 81 observations is 64. The standard deviation of the sample is which of the following? computed by summing all the data values and dividing the sum by the number of items The mean of a sample is VAR.S Excel's _____ function can be used to compute the sample variance. μ Which of the following symbols represents the mean of a population? median The measure of central location most often reported for annual income and property value data is the x̄ Which of the following symbols represents the mean of a sample? The data set is a sample. If the variance of a data set is correctly computed with the formula using n − 1 in the denominator, which of the following is true? −1 and +1 The correlation coefficient ranges from which two values? AVERAGE Excel's _____ function can be used to compute the mean. negative The variance of a sample or a population cannot be STDEV.S Excel's _____ function can be used to compute the sample standard deviation. squared value of the standard deviation The variance is equal to the N Which of the following symbols represents the size of a population? σ^2 Which of the following symbols represents the variance of a population? σ Which of the following symbols represents the standard deviation of a population? parameter A numerical measure from a population, such as a population mean, is called sample statistic The value of the ___________ is used to estimate the value of the population parameter. standard error of the mean The standard deviation of x̄ is referred to as the the population is first divided into groups, and then random samples are drawn from each group Stratified random sampling is a method of selecting a sample in which standard error The standard deviation of a point estimator is the standard error of the proportion The standard deviation of p̄ is referred to as the .05 The finite correction factor should be used in the computation of σx̄ and σȳ when n/N is greater than it is larger than the standard deviation of the population All of the following are true about the standard error of the mean EXCEPT sampling distribution of the sample mean The probability distribution of all possible values of the sample mean is called the standard error of the mean decreases As the sample size increases, the confidence coefficient The probability that the interval estimation procedure will generate an interval that contains the actual value of the population parameter being estimated is the normal As the degrees of freedom increase, the t distribution approaches the _____ distribution. 0 The mean of the t distribution is using a planning value p* closer to .5 We can reduce the margin of error in an interval estimate of p by doing any of the following EXCEPT 5 The use of the normal probability distribution as an approximation of the sampling distribution of p̄ is based on the condition that both np and n(1 - p) equal or exceed a population parameter An interval estimate is used to estimate .9 If an interval estimate is said to be constructed at the 90% confidence level, the confidence coefficient would be decreases As the sample size increases, the margin of error a. will always be accepted at the 1% level b. will never be tested at the 1% level c. may be rejected or not rejected at the 1% level d. will always be rejected at the 1% level c. may be rejected or not rejected at the 1% level If a hypothesis is rejected at a 5% level of significance, it